Noodles & Company (NASDAQ:NDLS) Short Interest Update

Noodles & Company (NASDAQ:NDLS) saw a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 272,062 shares, a decrease of 14.7% from the February 26th total of 318,969 shares. Approximately 4.8% of the shares of the company are short sold. Based on an average daily volume of 55,047 shares, the short-interest ratio is presently 4.9 days.

Hedge Funds Weigh In On Noodles & Company

Several hedge funds and other institutional investors have recently made changes to their positions in NDLS. Virtu Financial LLC bought a new position in Noodles & Company in the 4th quarter worth approximately $28,000. XTX Topco Ltd boosted its position in Noodles & Company by 228.5% during the 4th quarter. XTX Topco Ltd now owns 94,746 shares of the restaurant operator’s stock worth $67,000 after acquiring an additional 65,907 shares during the period. State Street Corp boosted its position in Noodles & Company by 31.1% during the 4th quarter. State Street Corp now owns 181,963 shares of the restaurant operator’s stock worth $128,000 after acquiring an additional 43,211 shares during the period. Renaissance Technologies LLC grew its stake in shares of Noodles & Company by 35.7% in the fourth quarter. Renaissance Technologies LLC now owns 93,500 shares of the restaurant operator’s stock worth $66,000 after purchasing an additional 24,600 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Noodles & Company by 34,246.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 49,802 shares of the restaurant operator’s stock worth $35,000 after purchasing an additional 49,657 shares in the last quarter. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Noodles & Company Stock Performance

Shares of Noodles & Company stock traded down $0.05 during trading on Tuesday, hitting $8.57. 25,784 shares of the stock were exchanged, compared to its average volume of 79,306. Noodles & Company has a 12 month low of $3.57 and a 12 month high of $10.00. The stock’s fifty day moving average is $5.74 and its 200 day moving average is $5.71. The stock has a market cap of $50.45 million, a PE ratio of -1.16 and a beta of 1.50.

Noodles & Company (NASDAQ:NDLS) last issued its quarterly earnings data on Wednesday, March 25th. The restaurant operator reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.29. The firm had revenue of $122.78 million during the quarter, compared to the consensus estimate of $122.40 million. Sell-side analysts anticipate that Noodles & Company will post -0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NDLS. Wall Street Zen raised shares of Noodles & Company from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Noodles & Company in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Noodles & Company has an average rating of “Reduce”.

About Noodles & Company

Noodles & Company is an American fast-casual restaurant chain that specializes in a variety of noodle and pasta dishes inspired by global cuisines. Its menu features signature entrees such as the Wisconsin Mac & Cheese and Japanese Pan Noodles, alongside soups, salads, shareable sides and seasonal offerings. The brand emphasizes fresh ingredients, customizable meals and a quick-service format designed to accommodate dine-in, takeout and digital ordering channels.

The company was founded in 1995 by Aaron Kennedy in Boulder, Colorado, with the aim of introducing a diverse noodle-centric menu to the American market.